General Electric Company (NYSE:GE) dropped -2.49% in recent trade and currently has a stock-market value of $87.5B. The shares finished at $9.81, after trading as low as $9.54 earlier in the session. It hit an intraday high Friday at $10.1. Trading activity significantly improved as the volume at ready counter increased to 119,000,000 shares versus 114,000,000 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 119,000,000 shares. The stock is now 47.3% above against its bear-market low of $6.66 on December 11, 2018. It has retreated -58.92% since it’s 52-week high of $15.59 reached in May. Now the market price is down -35.67% on the year and up 29.59% YTD.
GE’s 50 day simple moving average (SMA 50) price is $8.29 and its 200-day simple moving average (SMA 200) price is $11.56. The company’s stock currently has a total float of 8.68B shares. Its weekly volatility is hovering around 4.46% and felt 4.34% volatility in price over a month. On the upside, the share price will test short term resistance at around $10.09. On a downside, the stock is likely to find some support, which begins at $9.53. The failure to get near-term support could push it to $9.26.
Separately, it has been reported that multiple insider activity took place at General Electric Company (GE). Director Dsouza Francisco acquired 60,000 shares for $151,500 in transaction occurred on 2018/11/14. After making this transaction, the Director owns a direct stake of 499,200 shares, worth $1,486,215, as per the last closing price. On 2018/11/06 Dimitrief Alexander, Senior Vice President at GE, purchased 10,000 shares at an average price of $9.48 per share. The new stake is valued at $1,773,972.
Chairman and CEO, Culp H Lawrence Jr had invested in 225,000 shares for $598,392 through a trade on 2018/11/01. Following this activity, the insider holds 2,189,250 shares worth $5,870,226 as of recent close. Wall Street’s most bullish General Electric Company (NYSE:GE) analysts are predicting the share price to blow past $21 per share during the next 12 months. The current median share price forecast by them is $11, suggesting that the stock could increase 12.13% in that time frame. The average price target of $11.2 calls for a nearly 14.17% increase in the stock price.
It had seen a negative analyst call from Vertical Research, which downgraded the stock from Buy to Hold on February 01. Analysts at Argus, shed their negative views on January 31 by lifting it fromHold to Buy. The stock won favor of Vertical Research analysts who expressed their confidence in it using an upgrade from Hold to Buy on December 19.
Moreover, it trades for 10.71 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.71x price/book and 0.72x price/sales.
GE last reported earnings that receded expectations. The company raked in $0.17 per share, -99.27% change on the same period last year. That was worse than consensus for $0.22. Revenue for the recent quarter stood at $33.28 billion, up 6% on last year and above the $32.61 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $26.42 billion to $29.16 billion, which should be compared with $27.98 billion generated last year.EPS is seen in a range of $0.1 to $0.18, against the $0.18 reported a year ago.